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need it asap Stoli Company's long-term avallable-for-sale portfolio at the start of this year consists of the following Stoff enters into the following transections involving
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Stoli Company's long-term avallable-for-sale portfolio at the start of this year consists of the following Stoff enters into the following transections involving its available-for sole debt securties this yeat Janaly 29 Sold one-half of the conpany 8 notes for 573,070 . July 6 Purchased Coepany X bonds for $126,60. November 13 Purchased Company z notes for $261,990. Oecenter 9 Sold all of the Coepany A fonds for $519,800. Fair values at December 31 are B, $82,800,C,$608,600,$117,000, and Z, $275,000 Required: . Prepore journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment or the long-term investments in available-for-sale securities. 2. Determine the amount Stoll reports on its December 31 balance sheet for its fong-term investments in avallable-for-sale securities. Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities. Journal entry worksheet 4 5 Sold one-half of the notes Company B for $78,070. Note: Enter debits before credits Step by Step Solution
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